Seek Excellence, Not Perfection
When golfing, “Skill is hitting the ball close to the hole, luck is when it falls in.”
Fractals… an important idea… at least to me it is.
The market is diving…IB is history… and we need to make some decisions.
Backing up a few steps, we need to put things in context.
We had primary resistance today at 1106.75, with backup expected to be 1110.
The General said his AWACS target zone was 91 to 94.
The Profiler had a92.5 as his primary exit.
The stacker of Boxes had a range of 1110 to 1090.
Yours Truly had primary T1 target at 90.5.
If you were seeking excellence, not perfection, and you noticed our tweets, what would you conclude?
- The 91 to 94 zone is a good place to scale out of shorts
- Different methodologies agreed on a target area
- Profit taking may occur in this zone
- Buying this area may be a profitable idea
- Risk reward considerations say a long is a better idea here than initiating new shorts
- All of the above
- None of the above
If we get hung up on catching every last tic, we miss the bigger picture. We step over a dollar to pick up a penny. (Poor analogy; they are both approximately the same by now).
Day after day, a variety of students of the market share their views. If we are open to the power of their “combined” educated guesses, we gain important insights. Some would call this concept “confluence”.
The Emini wizard system operates the same way. We have at least seven important major market metrics to give us a high level of confidence with our trade ideas.
No guarantees; just confidence. Within 1 minute we can scan all of these “players”.
Seeking Excellence, not Perfection.
Well… Like I said, I love Fractals.